September 6th - $CLASSIFIED GP (08232.HK)$ is about to implement a 1-for-20 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from September 7th, 2023.
$CLASSIFIED GP (08232.HK)$ slipped 4.0% and closed at HK$0.024 on September 5th with a turnover of HK$16,060. $CLASSIFIED GP (08232.HK)$ now has a total market capitalization of HK$10.7 million.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.